Motivating Employees: Using Numbers and Incentive Plans to Drive Team Performance

Motivating employees to care about the financial health of the business can be a daunting task for any business owner. However, it is a critical step to ensuring the long-term success of the business. In a recent episode of the Kid Contractor podcast, host Caleb discussed this topic with guest Carla from Cycle CPA. They discussed how to get employees motivated about the numbers and shared some practical tips that can be implemented in any business.

Carla recommended practicing some form of open book management where the business owner shows as much or as little of the financials as they want. However, she emphasized the importance of showing the gross profit percentage margin, which is a rule of thumb for the industry at around 50%. This helps employees understand the financial health of the business and how their work contributes to its success.

Carla also shared how she helped a particular business put incentive plans in place to motivate their employees. This involved creating a...

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